Vanguard Group Inc. Boosts Holdings in Hanmi Financial Corporation $HAFC

Vanguard Group Inc. boosted its position in Hanmi Financial Corporation (NASDAQ:HAFC) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,201,736 shares of the bank’s stock after buying an additional 45,511 shares during the period. Vanguard Group Inc. owned approximately 0.07% of Hanmi Financial worth $59,513,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH grew its position in Hanmi Financial by 5.3% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 119,408 shares of the bank’s stock valued at $3,229,000 after buying an additional 5,959 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Hanmi Financial by 12.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,577 shares of the bank’s stock valued at $583,000 after buying an additional 2,436 shares during the last quarter. CWM LLC grew its position in Hanmi Financial by 3.6% in the 4th quarter. CWM LLC now owns 44,197 shares of the bank’s stock valued at $1,195,000 after buying an additional 1,552 shares during the last quarter. Unison Advisors LLC boosted its position in shares of Hanmi Financial by 1.1% during the 4th quarter. Unison Advisors LLC now owns 32,259 shares of the bank’s stock worth $872,000 after purchasing an additional 356 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Hanmi Financial by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 25,275 shares of the bank’s stock worth $679,000 after purchasing an additional 2,204 shares in the last quarter. 88.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on HAFC shares. Keefe, Bruyette & Woods boosted their target price on shares of Hanmi Financial from $31.50 to $32.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. DA Davidson restated a “neutral” rating and set a $29.50 target price on shares of Hanmi Financial in a research report on Thursday, January 29th. Piper Sandler boosted their target price on shares of Hanmi Financial from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Finally, Wall Street Zen lowered shares of Hanmi Financial from a “buy” rating to a “hold” rating in a research report on Saturday, January 24th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $32.17.

Hanmi Financial Price Performance

Shares of NASDAQ HAFC opened at $29.09 on Friday. The firm has a market capitalization of $865.89 million, a P/E ratio of 10.85 and a beta of 0.73. Hanmi Financial Corporation has a one year low of $21.84 and a one year high of $31.33. The company’s fifty day moving average is $27.60 and its two-hundred day moving average is $27.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.98 and a current ratio of 0.98.

Hanmi Financial (NASDAQ:HAFC) last issued its earnings results on Tuesday, April 21st. The bank reported $0.75 EPS for the quarter, topping the consensus estimate of $0.71 by $0.04. The company had revenue of $134.95 million for the quarter, compared to analyst estimates of $71.40 million. Hanmi Financial had a net margin of 18.05% and a return on equity of 10.31%. Analysts forecast that Hanmi Financial Corporation will post 3.16 EPS for the current fiscal year.

Hanmi Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Monday, May 4th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, May 4th. Hanmi Financial’s payout ratio is 41.79%.

Insider Activity

In other news, insider Matthew Fuhr sold 3,300 shares of Hanmi Financial stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $30.83, for a total transaction of $101,739.00. Following the completion of the transaction, the insider owned 34,002 shares of the company’s stock, valued at $1,048,281.66. The trade was a 8.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.12% of the stock is owned by company insiders.

Hanmi Financial Company Profile

Hanmi Financial Corporation is a bank holding company based in California, primarily operating through its wholly owned subsidiary, Hanmi Bank. Established in 1982 to serve the Korean‐American community in Los Angeles, the company has expanded its footprint to include branch locations throughout California as well as markets in Illinois, Texas and Washington State. Hanmi Bank offers a comprehensive suite of commercial and consumer banking products designed to meet the needs of small and medium‐sized businesses, professionals and individual clients.

On the commercial banking side, Hanmi Bank provides business checking and savings accounts, lines of credit, commercial real estate lending and SBA‐guaranteed loans.